Tag Archives: Deutche Welle

The European Axis of Evil

The term got phrased in 2002 by George W. Bush, it was a term to describe governments accused of helping terrorism, digging for weapons of mass destruction and so on. The list had Iran, Iraq and North Korea. Yet now 14 years later, some consider that Iraq is no longer that, the other two remain, or do they? In all this there is a new player, the player is Turkey. It is not because of their affiliation to Iran, although that does not help their case. It is that our good old pressie GW the act of intentional destabilisation. You see terrorism is all about destabilising and Turkey has had its hand in that for the longest of times. A well heard case of last week was the scuffle that the Greek Coast Guard went into last week. At http://greece.greekreporter.com/2017/07/04/turkey-tries-to-exploit-incident-of-greek-coastguard-firing-warning-shots-at-turkish-cargo-ship/ we see ‘Turkey Tries to Exploit Incident of Greek Coastguard Firing Warning Shots at Turkish Cargo Ship‘, with the quote “The Turkish Foreign Ministry condemned Greece for the incident, making reference to “dry cargo” being carried between the Iskenderun port to Izmir port. “We strongly condemn the unmeasured act of Greek authorities in this disgusting incident,” a Turkish foreign ministry statement said“, yet in all this, do you know what is the most surprising part? The part that instead of making a thorough search on this ship showing that there were no drugs and that there was no case (which might have embarrassed the Greek authorities a little), everything became about the shots on a cargo ship and the Turkish fleet sending three ships into the region. So instead of the 1978 ‘Midnight Express‘ where the authorities went overboard on the American smuggling the drugs, they seem to go soft and facilitating on the drug dealers from Turkish descent. Is that corruption or what? As for the part of ‘disgusting incident‘, when we compare the Greek Coast Guard stopping a possible drug smuggler versus the amount of Kurds casually murdered by Turkish troops. I know what gets my vote for ‘disgusting incident‘ and it will not be the Greek Coast Guard.

The second issue is Qatar. Now there are a few unknowns here in the general part of Qatar. I do not claim to know all the inns and outs of the events, yet when one nation pisses off the bulk of the OPEC nations and basically all the neighbours, there is an issue. When Iran suddenly comes to the ‘aid’ of Qatar, we can accept that Qatar is not relying on the best voice to make any claim they might have. For Turkey to walk in brazen (or if that high on testosterone?) to play ‘protector of the underdog‘ they are not aiding, they are destabilizing the situation. As we see on how the papers all claim “President Tayyip Erdogan on Wednesday reaffirmed Turkey’s support for Qatar“, I remember the issues in 2002. America had been under attack and they needed their European ‘ally’ to grant them access to an air base. So what happened? Turkey thought it was a good moment to try some blackmail. Like nullifying all debts, large cash incentives and the list went on for a while. That was for me the first clear indication that a nation like Turkey had no business being part of the EU or given any of its privileges. Turkeys only concern is turkey, which is acceptable to some extent. I accept that any nation is in it to make its life and the life of its citizens better. Turkey just did that in a few too unacceptable ways. Basically at that point, Turkey became a facilitator and to the smallest extent a protector of the terrorists that had attacked America.

When we look at the June article in Al Jazeera, we see: “Bahrain, Saudi Arabia, Egypt, the UAE and several other countries cut their ties with Doha on Monday, accusing it of supporting armed groups and their regional rival, Iran – charges Qatar says are baseless“. So is this merely about intelligence and evidence? Can 4 nations be so wrong? The issue added to this is that Turkey is less about support for Qatar, as it is to destabilize the situation. In addition, it seems to be less about ties with Qatar as it is about making stronger bonds with Iran. You see Turkey is not stupid, Iran with some of the sanctions lifted could be a haven of consumer exploitation in Iran, a large chunk of cash turkey is always greedy to get their fingers on (and with the state of their currency, who can blame them?), so as we see these iteration play out, we see two events where Turkey is not an example of positivity and merely another piece of evidence that Turkey has become a member of the Axis of Evil. In all this America is also active trying to resolve issues, where only 15 minutes ago, the first draft of meeting points for the meetings that US Secretary of State Rex Tillerson will be discussing in Kuwait on Monday. Yet in all it is the other part, parts touched on yet not discussed in detail which is the accusation from the Saudi led group on “the continued events seeking to sabotage and undermine the security and stability in the Gulf region“. Another side to this was given by foreignnpolicy.com only mere hours ago. “Regardless of what the United States does, sharply increasing the vitriol towards Iran while at the same time laying siege to fellow GCC member Qatar will likely weaken the Saudi position and what is left of an already compromised Arab political order. Intended to take Iran down a notch, these actions instead will likely strengthen Tehran’s hand“, this is where the destabilising part of Turkey comes more into play. As Turkey commits military support, Iran can void their actions to interfere by merely calling Ankara to do so. It does not merely make Ankara the puppet of Tehran, a game they will be rewarded for later, it allows for any resolution into the entire matter to not become a reality and as such, the evidence on terrorist support by Qatar becomes more believable. In this the second side would be that both Turkey and Iran can give support to Yemen to bolster pressure. In this, my most inhumane statement of all-time! ‘Thank god for Cholera!‘ If Yemen was not hit by cholera the way it is, the pressure on Saudi Arabia would have been a lot higher and as such escalations by the 4 members would have been near impossible to avoid. In this the four would have additional options if a large humanitarian front towards Yemen would open up to give relief to the speculated 275,000 cholera cases in Yemen. The reason is not merely Yemen, the danger of Cholera moving from Yemen into Oman and Saudi Arabia is getting more and more likely, implying that once it gets into Saudi Arabia, the pressure becomes even greater. In all this Turkey is sending tonnes of supportive goods to Yemen, which looks pretty good on the Turkey resume and through that they are only increasing their visibility to both Iran and Qatar. As such, if the Saudi led group would send humanitarian assistance, it could diminish Turkey’s growing footprint and it would be the right thing to do. In all this we now see (yesterday that is) is that ‘Qatar ‘opens its books’ to Germany’s intelligence agency to clear up terrorism claims‘, (at http://www.ibtimes.co.uk/qatar-opens-its-books-germanys-intelligence-agency-clear-terrorism-claims-1629260), we see the part that I was all in favour of close to a week ago. I reckon it takes time to get the ball rolling in Qatar. So how will this unfold? You see, in the end there are two elements. Not just what Qatar has in intelligence, because there will always be an issue between home and foreign intelligence. We should be able to agree that the 4 nations are not doing this for mere fun, so there is a level of intelligence that there has been an issue and Iran is not known to be the nice guy in any of this, strengthening the issue that Saudi Arabia et al have. You see, the following quote “Germany’s foreign minister has said his country’s intelligence agency will audit Qatar to help clear allegations Doha supports terrorism“, “However, they decided to continue with the ongoing embargo, following Qatar’s rejection of a list of demands it was told to meet to end its isolation” as well as “The United Nations undersecretary general, Jeffrey Feltman, met Qatar’s minister of state for foreign affairs, Sultan bin Saad Al Muraikhi, on Thursday. He expressed concern over the continuation of the crisis and stressed the UN support of Kuwait for its mediation efforts to solve the situation, Al Jazeera reported“.

So, why these three?


The fact that Qatar might not have put any part of these issues of intelligence to storage (or to whatever intelligence recording process they have, does not mean that it does not exist. We have examples that go back to world war one proving that, yet the most visible one was ‘Das England spiel‘ where dozens of radio operators were arrested the moment they landed, it showed huge flaws in the system and even as the fable of intentional misdirection was given at some point by non-official players, we see that there are needed moments of not committing any intelligence to storage media. The fact that Iran only trusts Iran is partially supportive evidence of that. when data is not available we cannot state whether the issue does or does not exist, we cannot predict the data that is not there, we can only consider other evidence that the lack of data is more likely than not, to be intentional.


In this needed path to find evidence, it does not mean that the opponents stop their actions, until clear evidence is given, the opponents are in denial and even when after all this time the data comes out, any evidence stating that Qatar had not been part of the Iranian actions, does not mean that the evidence is accepted. Merely because someone vouches for another does not mean that the voucher is valid. Tools can be found on any level and the absence of evidence does not make a person guilty of innocent, the application is in the eyes of the beholder and Iran has soured the milk for the longest of time in the region making the option of Qatar making any case of defence harder, not easier.


The fact that Jeffrey Feltman and Sultan bin Saad Al Muraikhi met does not give too much credence on any level. No matter how UN American he seems to be, as President Trump had given ‘support’ to Saudi Arabia gives less value to the existence of Jeffrey Feltman in this particular case. There would have been a better situation if this case was taken over by a non-American. This is not an assault on Jeffrey Feltman himself. It is merely that Americans are now on both sides of the table. This is great when you are an arms dealer, slightly less great when you need trust on any side of the table. The fact that a mere week ago Jeffrey Feltman stated that ‘No report on violation of resolution 2231 by Iran‘, giving on that “the supply, sale or transfer to Iran of nuclear-related items” has been set as fact does not mean that he lied or knowingly misrepresented his office. It merely gives rise that he might not be regarded as a trustworthy source by Saudi intelligence. That is the nature of the game and in this it is a mere consequence.

In addition, German sources give us “So far Turkey has sent more than 100 planeloads of relief and most recently a cargo ship carrying 4,000 tons of food aid. Ordinarily, affluent Qatar relies heavily on Saudi Arabian food exports“, now there is no indication that Turkey is doing anything but that, yet is that a certainty that Saudi and Egyptian intelligence will rely on? I know some of these people, paranoid, the whole lot of them! (It is a job requirement I guess). In this Turkey might be showing their ‘good’ side, yet in effect they are merely a more and more destabilising factor in this mess. It is that very same source that gives us a gem. We get “Galip Dalay, research director at the Al Sharq Forum and associate fellow at the Al Jazeera Center for Studies, a think tank funded by the broadcaster, Turkey has lost the opportunity to claim neutrality and mediate“, which is at the heart of the matter. Turkey has plenty of clever people, some exceedingly so, why would a ‘throne creating opportunity’ be missed like that? The one act that could have propelled Turkey in a positive way was merely cast aside by sending in the troops. In all this the quote “Turkey’s support for Qatar has actually prevented a potential invasion or toppling of the current Qatari administration“, I do not believe this to be the case, or ever was a valid concern. Should any of the 4 invaded Qatar; they would have been painted as the black trump card, the card that holds no value. It would not have mattered that there is ‘Oil in the family’; it would be the dark mark none of the 4 players wanted. This, when weighed gives additional value that Turkey is the new player in the Axis of Evil. I took the long way round to show you as the elements have multiple sides and you need to see more than one angle in this. So as we see that the Cyprus talks have collapsed, the call to suspend the Turkey ascension talks to the European Union are all elements of inaction, destabilising actions and what could be nothing else than stupid actions in uplifting whatever view of Turkey was possible, these elements buy themselves are no reason to see Turkey as the new member of the Axis of Evil, yet together they are a clear pattern in setting a tone of chaos whilst effectively removing the options of clarity to the diplomatic board. There can be no other option in this. It is not merely a one stage view; it is the view of close to half a dozen theatres where Turkey is setting the negative tone.

How wrong am I?

That remains to be seen. I am not proclaiming to have all the wisdom in town (just a lot of it), what is a given is that the board is always larger than one person can behold and the latest acts by Turkey, in light of the trade deal with Indonesia might have been a positive one, were it not that the first path they take is regarding the defence industry and the production of a medium tank named ‘Kaplan’. I am thrilled for President Joko Widodo to get his economy running a little better, yet Germany started their economy in an upwards trajectory by pushing the weapons industry. In this Indonesia merely gets a nice opportunity, in regards of Turkey I am a lot less certain on their motives. In addition, as we see those ties strengthen, there will be additional options for Iran and Russia, not the people I prefer to have as a neighbour, as Indonesia is a mere 400 Km to the north. I have no issue with Indonesia as they offer the greatest Batik’s on the planet. Having Iran and Turkey 400Km to the north was not what I had in mind when I decided to plant a vegetable garden with a view to the North. Yet, that might just be my limited view on life and global events.

The mere question remains, when we consider the political plays turkey could have made, is there an option that Turkey is a mere puppet in a game they don’t really understand? #Justasking



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Where we fail again

There is an issue, the issue is in Greece. This issue is not because of the Greeks, it is not because of anything they did. They are just unfortunate to be the second nation on the route of refugees. Here we see failings on multiple levels, none of them are Greek! You see, this is all due to a youngling named Sebastian Kurz (the Austrian Foreign minister). Extremely bluntly stated, as I see it, this man looks like a teenage boy hoping to get his first gob job! From the Deutche Welle (at http://www.dw.com/en/austria-not-waiting-for-a-european-solution/a-19071556), we get “if Greece refused to protect the EU’s external borders and continued to let refugees travel to Europe, and the EU still had no common solution for the problem, Austria had no choice but to deal with the situation on a national level“. In this regard, my still fuming mind goes: “Well Sebastian, once you stop thinking like a teenager and actually start focussing on the elements, you would see that is Turkey and not Greece that has been the problem. That nation, that had no issue shooting down a Jet after an alleged transgression over Turkish airspace for a mere 10 seconds, that nation seems to give clear passage to refugees any way they can, they even get their hands on boats so that they can make it across to Greece, at which point Greece can either let these people drown or let them ashore.” Did you consider that even once?

Where was Austria and a group of other nations to support Greece in dealing with these refugees? Did you consider that Bassie boy? No, as I can see it, you did not. You just held a one day conference with all the trimmings, so that you could show Albania, Bosnia-Herzegovina, Bulgaria, Kosovo, Macedonia, Montenegro, Serbia and Slovenia how important you pretend to be, so is that important or impohtent? Greece has a lot to deal with. One article (all from the Guardian) states ‘Up to 70,000 migrants ‘may soon be stranded in Greece’‘, which will trigger the Greek Army, but they are equally impaired to the task. The second one gives us ‘Double crisis deepens despair in Greece’s ‘warehouse of souls’‘ and the third one gives ‘We can’t allow refugee crisis to plunge Greece into chaos, says Merkel‘. All true, all factual and all incomplete!

Only now do we see in the SF Gate (at http://www.sfgate.com/world/article/Turkey-pledges-to-slow-enormous-tide-of-refugees-6859342.php) ‘Turkey pledges to slow enormous tide of refugees‘, where we see “Turkey all but turned a blind eye last year as more than 850,000 people, most of them Syrians, slipped into Greece from Turkey on smugglers’ boats. Now it’s promised the European Union that will change“, can anyone explain why we tolerate the political joke Turkey has become? The nation that had no issues with a Russian Jet is unable to stop Turkish smugglers. Perhaps the Turkish navy is still relying on equipment from WW1? I am just asking!

Yet, Sebastian Kurz has made no allowance for this at all. He is perhaps hoping on an anti-Greek sympathy vote? From all we see, is the fact that not Greek, but Turkey seems to be a massive problem in all this and now the smugglers got their gains, everyone points at Greece. It is unfair, incorrect and lacking justice on many levels. And in this age of humanitarian need, why do we read “In return for trying to stem the flux, Turkey is to receive a $3.3 billion fund to help it deal with the refugee crisis, a much-awaited easing of EU visa restrictions for Turkish citizens and sped-up EU membership talks“, so apart from not doing their jobs, we see that too many events fall on someone else’s job list at the premise that Turkey is getting something out of this for themselves. How is that anything else then a continuation of selfish needs against the backdrop of the EEC? First we could not deal with Greece (the part that was their responsibility), in all this we have the unacceptable acts by Turkey and now we add to that the immature acts by the Austrian Foreign Affairs Minister hiding it away as a mere conference. Now on the other side, there is no doubt that the pressure is on Austria, but blaming Greece for something that has been out of their control is, as I see it is a total sham.

Greece needs to do more, yet that is not possible and equally unacceptable with massive funds from the EEC and IMF. Turkey might have been strategically a better solution, but it has shown from 2001 onwards that it could not be trusted, and an ally that will only stand by others for a price is not an ally, it is a courtesan at best and a mere mercenary at the worst. There is another benefit, with this change, with these registration systems, it could lead to economic options for Greece. These registrations need to happen, which means jobs for the Greek people and data for the other EEC nations. An idea that came to me months ago, it seems such a simple solution that solves a few issues, yet politicians seem to be immune to solutions, they much rather have one day conferences and leave an ally out of it all, whilst ignoring the acts that could have helped the EEC as a whole. Minister of National Defence Panos Kammenos would have a central role in this. Together with Germany they could instigate a new identity card that holds biometric data, a card that could start the changing path of refugees into a slow path to a future, wherever it could be in Europe. The more confirmed identities there are, the better the options become and the pressure over other nations would start to diminish as solutions are created, one step at a time. A mere solution I saw last year, all we now see in the papers is how close to nothing has been achieved. This all escalated a mere moment ago when we got ‘Teargas fired as refugees try to breach Greek-Macedonian border‘ (at http://www.theguardian.com/world/2016/feb/29/teargas-fired-as-refugees-try-to-breach-greece-macedonia-border), the danger is that a mass of people pushed into a corner will do what it needs to survive, and this is close to getting out of hand. In all this Greece now needs to step up to the plate, which they might be willing to do, but if the EEC does not do anything in massive support, the actions will not be realistic. A situation that now develops was clear that it would become unmanageable almost a year ago. How interesting that those relying on ego and presentation will remain in denial until the first casualty comes, right Mr Kurz?

In all this, I do acknowledge that Austria has a problem, it has had one for a while, but the simple story is that those refugees never saw Greece as a Destination, they are aiming for Germany, France and the United Kingdom. That too has been known for a very long time. Which gets me to one part that does fall onto Greece, that is seen in the quote: “Volunteers described scenes of mayhem at passenger terminals in Piraeus and the arrival hall of the former Ellinikon airport in Athens, where up to 4,000 have been housed. “We should have resorted to using the armed forces long ago,” said one. “[But] being [a] left wing [administration], there was hesitation. There were humanitarian values we wanted to uphold.”“. You see, I agree, the army should have been deployed, yet everyone forgets that an army can be deployed for humanitarian purposes. You (in an oversimplified way) replace his rifle for a clipboard and you give him a pink or light green armband (or a white one with a red cross and a red crescent), so that the refugees can see the difference. So that they see that help is no longer a dream but an option.

I apologise for oversimplifying the matter for Austria and its small one day conference, where it remains debatable if anything useful evolved from that expensive event.


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S&M or S&H?

That is the question that should be on the minds of people everywhere! You see Self-interest and Misinformation is every bit a tool of application in the Sade-Masochistic approach that politicians use, or if we use names it would be the dialogue between Alexis Tsipras and Jean-Claude Juncker where Tsipras voices: “You wash my back, I wash yours real hard!” So as we see in the Guardian the call for ‘Sanity and Humanity‘ we must ask the clear ‘why?’ part. You see, we are now getting ‘misinformed’ by laureates and by people in the industry of high economics. They most likely want their cushy job to continue. If Greece falters that is no longer an option, because the repercussions go a lot further than Greece, even the US is now getting involved because the fallout from Greece leaving is a lot more than the people are told.

First Premise: If my thoughts were wrong, then why not let Greece out of the Euro, let it float its Drachma and slowly get back on the horse? Because virtual or not, the fallout of half a trillion whilst Italy and France are so deep in debt is a massive problem!

The names calling for this are: Nobel Prize winner Joseph Stiglitz, star French economist Thomas Piketty, former Italian PM Massimo D’Alema, and America’s Jamie Galbraith. The list has more names, but you’ll have to get to the Financial Times for that.

You see, the premise of Humanity is nice (and I am all for Humanity), but when the person involved REFUSES to take decent steps towards the solution, the sanity part is to just cut them lose, but as I stated in my first premise, that is not an option, the negative consequences are scaring too many ‘profiteers’ as I see them!

The first untruth by these writers (bleeding hearts seem to be the most apt title). We see the quote: “Six months on, we are dismayed that austerity is undermining Syriza’s key reforms, on which EU leaders should surely have been collaborating with the Greek government: most notably to overcome tax evasion and corruption“. I would call this a lie of the first order! Why am I calling it that loud?

The Greek government has done close to nothing to overcome tax evasion and corruption! Which politicians from former administrations have been arrested and are investigated for squandering government funds? We saw one case of tax evasion for 1.2 million, which is 0.000028436% of the debt, it does not even cover the smallest part of the interest bill.

The next statement is: “Austerity drastically reduces revenue from tax reform, and restricts the space for change to make public administration accountable and socially efficient” the second expression of laughter! Greece has next to nothing in revenue from taxation, let alone revenue from tax reforms, in addition public administration is not holding anyone accountable, the Greek public administration is a joke no one wants to touch (let alone the Greeks), so the claim made here is nothing more than an empty sentence.

Now we get to an interesting part: “It is wrong to ask Greece to commit itself to an old programme that has demonstrably failed, been rejected by Greek voters, and which large numbers of economists (including ourselves) believe was misguided from the start“. Well, if it was misguided, then the ‘friends’ you have in Goldman Sachs and other financial pool party’s should not have borrowed them the money to begin with! There is no doubt that Syriza has a bad deal, but they wanted the bad deal! They wanted to govern at the expense of everything and everyone! New Democracy under Antonis Samaras was actually trying to sort things out. In addition, the Greek voters do not get to reject this. They voted the people in that spend the money with zero foresight or consideration of the consequences, the Greek people now get to pay for it all. You see, someone spend over 400 billion, it went somewhere. That part is due and the loans made afterwards to get things ‘rolling’ was never realistic, but the top economists were all eager to get the kickbacks that they refer to as consultancy and commission! When a bank allows for events THIS STUPID to get out of proportions, in the end, I do not deny that Tsipras and Varoufakis are playing a clever game. They are willing to let the ‘other’ players collapse. It is a ‘pay our debt or else’ approach. It is not acceptable! And I reckon it should not be tolerated on this level.

What would be acceptable, if the entire debt is paid for by banks, monitored by oversight commissions to ensure that the people (their consumers) never get any additional charges! That banks would need to come up with the money from their own profits and dividends. That I would find acceptable, but guess what? The ‘friends’ of those who signed this letter will not accept that and they will reject that in a heartbeat, so here we see Joseph Stiglitz, Thomas Piketty, et al all writing about humanity, when it should be about accountability!

Now we get the half-truth in all this “Clearly a revised, longer-term agreement with the creditor institutions is necessary: otherwise default is inevitable, imposing great risks on the economies of Europe and the world, and even for the European project that the Eurozone was supposed to strengthen“, is that so?

My second premise: Yes there will be risks, but the one I see is a more total collapse when the debt is shouldered by those already in too deep. That part is not mentioned and moreover that risk has been trivialised by several players all over the Eurozone field, including by the top of the IMF and a few top players in the US too.

And I reckon that the quote “Syriza is the only hope for legitimacy in Greece” can be discarded out of hand, they actually escalated it all, in all this, as I see it, New Democracy was the true hope for Greece.

Now we get a quote that is truly a worry “Consider, on the other hand, a rapid move to a positive programme for recovery in Greece (and in the EU as a whole), using the massive financial strength of the Eurozone to promote investment, rescuing young Europeans from mass unemployment with measures that would increase employment today and growth in the future“.

My third premise: First of all, this is not the first time that approach is used, Adolf Hitler used it in 1935; how did THAT turn out? Now, let’s not go all Nazi on this and consider the issues in Spain, Italy and France? Do you have solutions for them too? How would you like to voice this in reality? That is the problem, you see, jobs come from places that have income, that have product and that is selling, that allows for hiring and paying staff! This is the entire issue, there are no jobs, because people are not buying, because after the cost of living there is not enough money to spend.

It is not a math issue that requires a Nobel price, a mere abacus, or just common sense, paper and pen could have worked that out! In addition, the prediction I made in my article ‘An Olympic steeplechase‘ on May 26th 2015 (at https://lawlordtobe.com/2015/05/26/an-olympic-steeplechase/), two days later Deutche Welle publishes this “‘We’ve been receiving reports of a decline in bookings, especially from Germany’, says the tourism manager to DW“. I saw the writing on THAT wall! In addition there is “Andreadis quotes the latest statistics from the German Society for Consumer Research (GfK): Bookings in Germany have declined by 2 percent based on annual figures“, two percent does not seem that much, but in an economy where the Greek GDP is making another step towards 0 and lower, 2% is a lot. The issues with refugees isn’t helping Greece either. The British media reported that Kos, a Greek tourist attractor has become a ‘disgusting hellhole’, which would push tourism down further. Influx from both Russia and Scandinavia is down too, but at present unknown by exactly how much. It basically means that tourism will not bring the bacon to the outstanding invoices for Greece, apart from collecting the taxation on it all that is.

The final misrepresentation is “Like the Marshall plan, let it be one of hope not despair“, it is a misrepresentation, because the Marshall plan did the right thing, whilst the people did their part, the governments were in better control, within the Euro at present not one government has been holding pace with the expenditure and keeping a proper budget, which gets trivialised by those administering it and the extra spending is overstretched again and again.

My fourth premise: So this is not about Mr Marshall and his amazing achievement, this is about the Greek government actually doing something. Pushing the invoice out 30 days is not a solution. In addition to that, nearly every person and toddler can see that the 7 billion that is supposed to be freed up will after paying the civil servants their 2.2 billion in outstanding parts will not even cover all the bills until the end of the year and whilst Greek taxation is not being addressed, another interest invoice of 22 billion will be due in under 10 months. Yes, 22 billion just for the interest payment!

So as we are misdirected by some people hiding behind the fact that IMF payments have been overdue before, the issue here is that Greece is now TWO payments behind, totaling a little over 1 billion, part one due in two weeks! So as the Greeks vow not to leave the Euro, the question will soon become, do they actually have a choice in this, because when payments are not forthcoming, there must be repercussions, the one part Greeks are really good at denying.

I must of course also mention that there is debt restructuring document, which is regarded as being ‘hopeful’. The view comes from Peter Spiegel of the Financial Times and the quote is “The restructuring plan is ambitious, offering ways to reduce the amount of debt held by all four of its public-sector creditors: the European Central Bank, which holds €27bn in Greek bonds purchased starting in 2010; the International Monetary Fund, which is owed about €20bn from bailout loans; individual Eurozone member states, which banded together to make €53bn bilateral loans to Athens as part of its first bailout; and the Eurozone’s bailout fund, the European Financial Stability Facility, which picks up the EU’s €144bn in the current programme“.

The fifth premise: My issue on these document is that they are ALWAYS based on too positive an outlook, which is why they usually fail. In addition, Greece will at least need another 20 billion, that is if the 7.2 billion that they are trying to get their fingers on is already in the given picture, which is not a given at present.

The quote “to get back under 60 per cent of GDP” is just insanely unrealistic. You see, to do that you need to fix expenditure by a lot, the one part the Greeks utterly refused to do, in addition, they just rehired the people they had let go, so expenses are back up too!

As Peter Spiegel (@SpiegelPeter) states: “It also involves eliminating a chunk of Greece’s bailout debt“, which is fine by me as long as the BANKS pay for that part, if it comes from Goldman Sachs’s pocket so much the better! Let’s not forget that part of this entire mess was because Goldman Sachs helped Greece mask the actual debt it had (source: Der Spiegel) on February 8th 2010! How much forward momentum did Greece achieve since then (like lowering debt)? NONE!

I will say again that this is all unfair on the Greek people, but they did elect this lot into parliament, as they elected the previous bunches, how about knocking on those doors to get at least some of those funds back (which also lowers debt)?



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